Articles from St. Petersburg Bankruptcy Law Blog

Primary tabs

How Common is Chapter 7 Bankruptcy?

Submitted by Anonymous (not verified) on Fri, 07/16/2021 - 19:21

Also known as “liquidation,” Chapter 7 bankruptcies are the most common chapter of bankruptcy filed in the United States. On average, approximately 62% of all personal bankruptcy filings are Chapter 7 cases. Chapter 13 cases account for roughly 37% of personal bankruptcy filings. Less than 1% of the remaining cases filed are individual Chapter 11 […]

What are the Qualifications for Chapter 13 Bankruptcy?

Submitted by Anonymous (not verified) on Fri, 07/16/2021 - 19:00

Chapter 13 is commonly referred to as a “wage earner” or “restructuring” bankruptcy. Debtors are permitted to reorganize their financial obligations, paying some debts through a three to five-month bankruptcy plan and potentially discharging some. While many people are eligible to file a Chapter 13 case, some requirements must be met. A potential filer must […]

What are the Qualifications for Chapter 13 Bankruptcy?

Submitted by Anonymous (not verified) on Fri, 07/16/2021 - 19:00

Chapter 13 is commonly referred to as a “wage earner” or “restructuring” bankruptcy. Debtors are permitted to reorganize their financial obligations, paying some debts through a three to five-month bankruptcy plan and potentially discharging some. While many people are eligible to file a Chapter 13 case, some requirements must be met. A potential filer must […]

How Much Does Filing for Bankruptcy Affect Your Credit Score?

Submitted by Anonymous (not verified) on Mon, 06/07/2021 - 22:34

When you file for bankruptcy, your credit score will most likely decrease. You could see a decline of anywhere between 50 to 200 points depending on what your score was before filing. However, it is crucial to remember that this is usually only a short-term impact. If you are speaking with one of our Roseville, […]

How Long Does Bankruptcy Take to File?

Submitted by Anonymous (not verified) on Mon, 06/07/2021 - 22:27

One of the many questions people have when they first talk with a bankruptcy attorney is, “how long will it take for me to file?” The answer, like many other answers concerning bankruptcy, is, “it depends.” Many factors should be carefully considered before filing. The success of any bankruptcy filing depends on the work that […]
The post How Long Does Bankruptcy Take to File? appeared first on The Bankruptcy Group, P.C..

What’s the Difference Between Default and Bankruptcy in California?

Submitted by Anonymous (not verified) on Fri, 06/04/2021 - 19:15

Different events impact your credit score. If you default on an account or file for bankruptcy, you will see your credit score take a hit. However, that is where the similarities end. Defaulting occurs when you fall behind on a required payment, such as a car loan or mortgage. Bankruptcy is a legal process to […]

Can You Refinance a Mortgage After Bankruptcy in California?

Submitted by Anonymous (not verified) on Thu, 06/03/2021 - 20:25

After emerging from bankruptcy, you might want to begin putting your finances in order. One way homeowners reduce their monthly mortgage payments is by refinancing to take advantage of lower interest rates. While it is possible to refinance your mortgage after a bankruptcy discharge, there is a waiting period. Below, our Roseville bankruptcy attorney from […]

Is There a Minimum of Debt in Order to File for Bankruptcy?

Submitted by Anonymous (not verified) on Thu, 06/03/2021 - 19:53

Debt is a personal thing. The amount of debt that is manageable for one person is overwhelming for another. While there is no minimum amount of debt necessary to file for bankruptcy, there are other important factors to consider to determine if filing for bankruptcy is practical. Often, the best what to figure out whether […]

How Late Can Your Car Payment be Before it Gets Repossessed?

Submitted by Anonymous (not verified) on Fri, 05/21/2021 - 21:34

If you have missed car payment or two, you are probably losing sleep each night, wondering what day you are going to wake up and find your car repossessed. Every day you find your vehicle untouched feels like a reprieve. One question you might have, is when can a lender repossess your vehicle? Typically, a […]

Can Your Spouse’s Bank Account be Garnished for Your Debt in California? 

Submitted by Anonymous (not verified) on Fri, 05/14/2021 - 16:54

Many married people in California have individual debt. When they fail to make payments on their debt, their creditors are entitled to take legal action to collect. One step a creditor can take is to get a judgment and levy a person’s property, including their bank account.  Because California is a community property state, the […]

Pages